Choppy Week Sends Wall Street Towards Mixed Close

Tech stole the spotlight once again

Deputy Editor
Sep 15, 2023 at 1:20 PM
facebook X logo linkedin


Investors cheered on Wall Street's strong initial public offering (IPO) market this week, helping brush off a slightly hotter-than-expected inflation reading. Traders cycled back into tech stocks but the Nasdaq Composite (IXIC) is sitting at its week-to-date breakeven mark. The Dow Jones Industrial Average (DJI) is on track to nab a weekly win after securing its best session in over a month, while the S&P 500 Index (SPX) is also staring at a big win this week.

Wall Street also paid close attention to rising crude prices, with oil closing above the $90 per barrel mark for the first time this year earlier in the week. It doesn't look like the U.S. economy is out of the woods as far as inflation is concerned, but there's hope that the central bank will lay off interest rate hikes.

Digging Deeper Into Tech

Arguably the most popular story of the week was Arm (ARM) making its debut on the Nasdaq. The semiconductor and software firm's IPO was a success that helped at least two other chip stocks soar on the charts. On the earnings front, Oracle (ORCL) and Adobe (ADBE) both entered the confessional to report quarterly results. Elsewhere, Tesla (TSLA) earned a massive bull note, Warren Buffett's Berkshire Hathaway sold a hefty amount of HP (HPQ) shares, and breaking down Amazon.com's (AMZN) impressive technical setup.

Interest Rate Decision Looming

Looking ahead, the Federal Reserve has a major interest rate decision to make, while some quarterly reports are still due out. Meanwhile, Senior Quantitative Analyst Rocky White highlights some stocks that could face selling pressure soon, and Senior Market Strategist Matthew Timpane warns of a potential post-options expiration swoon. 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI